Reconstruction of Cascade Complex in Yerevan approved, marking the start of the practical phase – City Hall

YEREVAN, November 3. /ARKA/. The investment program for the Cascade Complex's reconstruction in Yerevan has received approval, and it is now moving into the practical phase, as announced by Sona Tevanyan, the mayor's adviser, who did not disclose the investment program's total amount.

Earlier, Yerevan Mayor Tigran Avinyan indicated that the successful bidder in the tender, GTB Development, proposed an investment of 20.05 billion drams and also agreed to pay the Yerevan City Hall 10.4 million drams for the land plot at its cadastral value.

"In relation to the reconstruction initiative for the Cascade Complex in Yerevan, the government has recently sanctioned the proposed investment program, and with this endorsement, the program is now entering its practical phase," Tevanyan remarked during a working meeting at City Hall on Monday.

She mentioned that discussions are currently in progress with the selected investor company to finalize contracts that will govern the reconstruction of the incomplete section of the Cascade complex, as well as the acquisition of adjacent land plots.

"Subsequently, work will commence at the top of the Cascade, which was created during prior unfinished construction, along with foundation demolition activities. Concurrently, talks will initiate with the Ministry of Education, Science, Culture, and Sports, so that once the necessary procedures are completed, they can also secure their approval for the submitted design and start drafting the architectural master plan," she stated.

The mayor's advisor further noted that collaboration is ongoing with the design firm to refine the technical specifications and expedite the project drafting process.

About the Cascade

The upper section of the Cascade architectural complex, which is one of the most cherished landmarks in Yerevan, has remained incomplete since the Soviet era.

In early March 2024, it was revealed that this area, spanning approximately 11.5 hectares, has been handed over to the Yerevan community. In April, the Cafesjian Museum Foundation contributed an additional 0.5105-hectare plot of land within this section to Yerevan  with the stipulation that the Cascade staircase be finalized. 

The initiative encompasses the establishment of a concert hall with a capacity of 1,000 seats, a museum, and a ceremonial space. Additionally, a cultural and leisure area covering 30,000 square meters will be developed. Furthermore, on the adjacent 4.6-hectare site, the company will have the opportunity to construct a multifunctional complex,” Avinyan stated.-0-